Winners of Towson University business plan competition announced
By Gus G. Sentementes
May 03, 2012 | 4:03 PM
A website that helps people rent their tools to make money and another that offers a low-cost way for diagnosing causes of fevers were the top two winners of the TowsonGlobal business plan competition yesterday, the university announced.
The first place winner ToolSpinner, designed by two brothers -- Daniel and Steven Cole -- who graduated from Towson, bills itself as an online rental marketplace for tools. People who have tools -- i.e. a circular saw, a palm sander -- can rent them out for several dollars a day. ToolSpinner charges a 20 percent fee for facilitating the transactions.
According to Towson: The first place award was valued at $17,000, and includes a monetary prize of $4,000, a 90-day Resident membership to TowsonGlobal and executive coaching from CEOIQ. The second place winner also receives a prize package valued at $5,200 which includes a monetary prize of $1,000, 90-day Associate Membership to TowsonGlobal and one year membership to the online community and resources of CEO IQ.
This year's judges were from the Baltimore region and included leaders from PayPal eBay, Inc., M&T Bank, G.1440, Planit, SC&H Capital, Renegade, and Towson University